DAVE Dave (DAVE) Q4 FY25 earnings call
Dave Inc. concluded FY25 with record revenue and adjusted EBITDA, significantly outperforming initial guidance, driven by robust member and ARPU growth. The company's CashAI v5.5 model continues to enhance credit performance, leading to improved unit economics and gross margins. With a new off-balance sheet funding structure and an expanded share repurchase program, Dave is positioned for continued profitable growth and shareholder value creation, while also developing new credit products like Pay in 4.
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DAVE operating KPIs by quarter
| KPI | This call Dec 2025 Q4 FY25 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Monthly transacting members | 2.9MOur 2.9 million MTMs are still a small fraction of the overall $185 million customer TAM and we believe we're still early in our journey to drive incremental ARPU through underwriting enhancements, new ExtraCash features and price optimization and new credit products.Source: earnings call transcript | 3.08MGrowth was driven by a 17% increase in MTMs to $3.08 million and 11% ARPU growth.Source: earnings call transcript | +6.2% |
| New members acquired | 867KIn Q4, we acquired 867,000 new members, up 13% year-over-year at a $20 tax.Source: earnings call transcript | 951KWe added 951,000 new members in the quarter, up 32% year-over-year, our fastest growth in nearly four years, and we delivered it at many times the scale we had back then.Source: earnings call transcript | +9.7% |
| Originations ExtraCash | $2.2BOriginations reached a record $2.2 billion, up 50% year-over-year, driven by 19% MTM growth and a 20% increase in average ExtraCash size of $214.Source: earnings call transcript | $2.3BOriginations reached $2.3 billion, up 27% year-over-year as member engagement and overall demand remains very strong.Source: earnings call transcript | +4.5% |
| Average loan size ExtraCash | $214Originations reached a record $2.2 billion, up 50% year-over-year, driven by 19% MTM growth and a 20% increase in average ExtraCash size of $214.Source: earnings call transcript | $215Additionally, average ExtraCash size reached a new high of 215, meaning members are getting more of the short-term liquidity they need for gas, groceries and rent from Dave while also driving incremental monetization for us.Source: earnings call transcript | +0.5% |
| Total card spend Dave Card | $534MTotal card spend grew 17% year-over-year to $534 million.Source: earnings call transcript | ~$530MDave Card was approximately $530 million, up 7% year-over-year as card volume continues to benefit from its natural synergy with ExtraCash.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.